Restructuring of insider-dominated firms

About

Countries

Data & Research

Learning

News

Projects & Operations

Publications

Topics

Home > Data & Research > Research > Document Search > Report Details

Restructuring of insider-dominated firms, Volume 1

Author:	Djankov, Simeon;	Collection Title:	Policy, Research working paper ; no. WPS 2046
Country:	Georgia; Moldova;	Date Stored:	2001/04/25
Document Date:	1999/01/31	Document Type:	Policy Research Working Paper
Language:	English	Major Sector:	(Historic)Private Sector Development
Region:	Europe and Central Asia	Report Number:	WPS2046
Sub Sectors:	Privatization-DV	SubTopics:	Small Scale Enterprise; Financial Crisis Management & Restructuring; Banks & Banking Reform; Microfinance; Small and Medium Size Enterprises; Private Participation in Infrastructure
Volume No:	1

Summary: Using enterprise survey data for 1995-97, the author studies and compares how different modes of privatizing to insiders affect enterprise restructuring in two former Soviet republics, Georgia and Moldova. Restructuring in companies in which incumbent managers received significant ownership stakes for free was similar to that in companies that were still state-owned. By contrast, restructuring was faster in companies bought by their managers. The author interprets these results as suggesting that managers' incentives to restructure decrease when they regard their newly acquired ownership as a windfall gain.


Official Documents Official, scanned versions of documents (may include signatures, etc.)
File Type		Description	File Size (mb)

	PDF 21 pages	Official version*	1.47 (approx.)
	Text	Text version**


Light-Weight Documents Lighter (less MB) documents which may or may not be the final, official version
File Type		Description	File Size (mb)

	PDF 17 pages	WPS2046	0.05

* The official version is derived from scanning the final, paper copy of the document and is the official,
archived version including all signatures, charts, etc.

** The text version is the OCR text of the final scanned version and is not an accurate representation of the final text.
It is provided solely to benefit users with slow connectivity.

Permanent URL for this page: http://go.worldbank.org/040P74DSY0